- Dogecoin price looks like consolidating after the recent losses which can be seen as part of a correction.
- There is a minor bearish trend line formed on the hourly chart (data feed from HitBTC), which may ignite the next move in the near term.
- A break above the highlighted trend line and resistance area may take the price towards the last swing high of 35.0 Satoshis.
Dogecoin price looks like setting up for the next move higher and if buyers manage to clear the highlighted trend line, more gains are feasible.
Buy with a Break?
We highlighted in yesterday’s post that buying dips may be a nice deal. Dogecoin price stayed above the 100 hourly simple moving average and found buyers. The price is now setting up for the next move and currently consolidating. There is a bearish trend line formed on the hourly chart (data feed from HitBTC), which is acting as a minor resistance for buyers.
A break above the trend line and resistance area is needed for buyers to take control. If they